Zomato-backed Shiprocket acquires B2B logistics firm Rocketbox, opens exit door for IPO-bound Delhivery

(Representational image: Shutterstock)

Zomato-backed logistics aggregator Shiprocket has acquired B2B logistics startup Rocketbox facilitating an exit for IPO-bound Delhivery which had invested in 2015.

The acquisition comes soon after Shiprocket announced its commitment to acquire a majority stake in Delhi-based Wigzo Tech.

The move will help Shiprocket to enhance its infrastructure and expand product stack for D2C customers and SMEs.

Launched in June 2015, Rocketbox began as an intra-city on-demand truck provider by aggregating 5,000 drivers on its platform. Post a Series A funding round from Delhivery and expansion of operations, Rocketbox launched its application suite catering to vendor payment, client billing, fleet management, client dashboard and driver app.

Following the acquisition, the founders and team will join Shiprocket and continue to build its cargo product.

Rocketbox’s AI-enabled systems offer comparative analysis to customers, allowing them to identify the right courier partner based on their requirements and budget.

"Given the rapidly changing consumer expectations and their preference for quick, seamless deliveries, it’s imperative to ensure all legs of the supply chain are optimised. Rocketbox has a cutting-edge platform which extends Shiprocket’s capabilities to B2B use-cases as well as bulk movement using cargo carriers. The platform brings along a host of features which will help retailers to save time, cost, and effort, allowing a smooth end-to-end logistics experience," said Saahil Goel, co-founder and CEO of Shiprocket.

Last year, logistics aggregator Shiprocket roped in Zomato as an investor.  It finalised a deal to raise $185 million in a Series E round which was co-led by Zomato and Singapore's sovereign wealth fund Temasek.

In an earlier interaction, Goel had told Moneycontrol that Shiprocket would use the funding for acquisitions among others.